Neometals Ltd, an innovative battery materials recycler, has announced the discovery of visible spodumene at its Spargos Project in Western Australia. The spodumene was identified in pegmatite intercepts from historic diamond drill core. The company is currently conducting a review of reverse circulation and diamond drill core from historical nickel exploration to assess the potential for multiple stacked pegmatite intrusions. Re-sampling is underway, and assay results are expected in the fourth quarter of 2023.
The Spargos Project covers an area of 55 square kilometers and is located 50 kilometers southwest of Coolgardie. It has a geological signature similar to other successful lithium projects in the region, such as Mt Marion, Kathleen Valley, and Mt Ida. The project exhibits textbook pegmatite emplacement associated with potassium-rich granite sources and Proterozoic dykes intersecting a mafic/ultramafic greenstone belt. Neometals has also conducted ground truthing of historic mapping, which has identified pegmatitic textures felsic outcrop in multiple locations over a 2-kilometer strike length.
This discovery is significant for Neometals as it expands the company's lithium portfolio and reinforces its position in the battery materials sector. The presence of visible spodumene indicates the potential for a commercially viable lithium deposit at the Spargos Project. The company will continue its exploration efforts and await assay results to further evaluate the project's prospects.